Malco Tools, a leading solution developer and manufacturer of a variety of high-quality tools for the HVAC and building construction trades, has been named a 2024 Minnesota Manufacturing Award winner by the Minneapolis/St. Paul Business Journal.

In a May 13 news release, Malco shared the announcement and noted that, for the second time since 2018, the company had been named Manufacturer of the Year in the medium-sized business category. The awards celebrate the successes and contributions of leading manufacturers to the region’s economy.

Malco employs 150-plus associates at its plant in Annandale, Minn., and is a 100% employee-owned employee stock ownership plan (ESOP) company. 

Since the Minneapolis/St. Paul Business Journal last awarded Malco an award. The company says it has welcomed a new leadership team and strategic board members focused on driving measured and strategic growth and strengthening the brand as it expands its product lines.

“Earning this recognition is such an honor and an amazing way to celebrate the entire team’s work over the years to strengthen our internal culture, improve processes and bring in strategic experts to help guide our growth, all while maintaining our commitment to developing and manufacturing the highest quality tools for skilled trade pros,” Rich Benninghoff, president and CEO at Malco, said. 

“We are immensely proud to once again be recognized among the leading manufacturers in the state of Minnesota who are doing fantastic work and promoting our local manufacturing industry.” 

Malco also advocates for trade careers, donating significant quantities of in-kind products and apparel annually to national skilled trade education programs, competitions and events. Malco has also reached 85,000-plus vocational students through its national "Head of the Class” Student Recognition Program, partnering with educators to recognize high-potential students and entire graduating classes in the trades.

The company also celebrates a safety-first culture. It has maintained OSHA Safety and Health Achievement Recognition Program (MNSHARP) recognition since 2004 and has earned the Minnesota Safety Council’s Governor’s Safety Award 13 times in the last 20 years.

Additionally, Malco is transitioning to environmentally friendly recyclable packaging materials with significantly less plastic, reducing waste, conserving resources, and lessening its environmental impact.

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